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Budget hacks
Airdrie and Coatbridge Advertiser
|July 16, 2025
Count the pennies: There are plenty of places to save across your family’s spending
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From childcare tax breaks to spending reviews, LAUREN TAYLOR explores the options for families who are feeling the strain BETWEEN high inflation pushing up the cost of everything, expensive (and rising) childcare prices, and pressures to plan financially for an uncertain future, parenting is pricy right now.
“As a father of two young children, I know firsthand how costs for looking after kids can add up,” says Rajan Lakhani, personal finance expert and head of money at money app Plum.
“It's understandable that working families are really feeling the pinch, more so than ever. While the latest inflation reading was 3.4%, the overall impact of inflation since 2021 means prices have risen by 25% overall, a major increase on day-to-day finances.”
Rajan says all is not lost, though, and with clever budgeting, parents can cut costs and have more in their pocket for spending or saving.
Commit to a spending review
“Firstly, you need to go through your finances and check what's really needed and to see if you're getting the best deals on things like insurance, mobile phone contracts and streaming packages,” says Rajan.
“It can be hard to find the time to manage money alongside family life, so make it part of your routine to set aside some time each month to review finances, pay any bills and create your budget.
“Do it on a day where you know you won't get interrupted and can give it your full attention.”
It is also helpful to have a yearly overview of your finances, he adds. “You want to get a sense of when in the year you spend more (e.g. Christmas) or have a higher income (e.g. due a tax rebate).
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